Dhaka, Bangladesh (BBN) – National Bank of Pakistan (NBP) is offering higher interest on its term deposit products than that of the other banks at the Banking Fair Bangladesh-2015.

The NBP has offered three fixed deposit receipts (FDRs) for the clients which tenure is one-month, three-month and one-year, Arshad Javed, an officer of the foreign bank, told BBN at fair premise in Dhaka on Friday.

It offers 10 per cent rate of interest to the clients if they invest the one-year FDR and 9.50 per cent for three-month and 8.50 per cent for one-month, the bankers added.

“We’re offering the clients an attractive savings scheme as the clients will be able to double their deposit amount by six years,” Mr. Javed explained.

He also said that other banks usually pay the double amount against the clients’ deposit after seven years under the double money scheme.

Currently, most of the banks are slashing their interest rates on deposit following excess liquidity mainly due to lower credit demand in the recent months.

“The country’s banking sector is now facing excess liquidity pressures so that they slash their interest rates on deposit continuously but the NPB is exceptional,” the private banker noted.

Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign in Bangladesh.

BBN/SSR/RZ